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President Barack Obama presented his final plan for carbon dioxide reduction targets on Monday, which would reduce emissions 32 percent below 2005 levels by 2030. (Credit: AP)

EPA, Clean Power Plan Foes Gird For Court Fight

The final version of the Clean Power Plan unveiled Monday will also unleash an avalanche of litigation challenging the sweeping proposal, and it's a virtual lock that the U.S. Supreme Court will eventually have to decide whether the U.S. Environmental Protection Agency has the authority under the Clean Air Act to issue the regulations.

  • BREAKING: Shire Lobs $30B Unsolicited Offer For Baxalta

    Irish drugmaker Shire PLC said Tuesday that it has made an unsolicited stock bid valued around $30 billion to acquire U.S. biotech Baxalta Inc., aiming for a tie-up that would create a biotech giant focused on treatments for rare diseases.

  • Jury Adds $3.2M Punitive Damages To Philip Morris Verdict

    A Florida jury on Monday slapped Philip Morris USA Inc. with $3.2 million in punitive damages, awarding a total of $11 million to the family of an ex-smoker who had two lung transplants after decades of smoking.

  • 1st UK Conviction Gives More Ammunition To Libor Plaintiffs

    Monday's conviction of a former UBS AG trader over the manipulation of the London Interbank Offered Rate will hand U.S. class action plaintiffs another weapon to fire at big banks in their ongoing litigation over the benchmark interest rate, experts say.

  • NY Bars Promontory Over Standard Chartered Failings

    The New York Department of Financial Services on Monday suspended indefinitely Promontory Financial Group LLC’s ability to advise state-licensed financial firms after finding that the consulting group “sanitized” a report on Standard Chartered PLC’s alleged violation of U.S. sanctions against Iran.

  • Obama Takes Tougher Stance In Final Clean Power Plan

    The Obama administration and the U.S. Environmental Protection Agency on Monday released the much-anticipated final Clean Power Plan, detailing a strengthened regulatory framework to address the “moral obligation” to reduce carbon emissions in the coming decades.

  • SEC Loses Bid To Dismiss Ex-S&P Exec's Complaint

    The U.S. Securities and Exchange Commission on Monday was foiled in its attempts to block a former Standard & Poor’s executive from countersuing it after a New York federal judge denied the agency's request to dismiss the lawsuit brought over the constitutionality of its in-house court.

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